If you’re married, list out all the income for both of you.Make sure you write in regular paychecks and anything extra, like that side hustle money.Here are some quick callouts when it comes to this first step: This is the proven plan to get ahead with your money-from saving more to paying off debt to building real wealth.ĭo you see the Planned column at the top of your Quick-Start Budget template? That’s where you list out all the money that’s coming in this month. We’ve got three steps to set up that budget and two more to keep it going-each and every month.īefore you dive in, print out your Quick-Start Budget template and open up your online bank account!Īlso, heads up: We’re about to mention the Baby Steps a couple of times. ![]() You ready? (Yes, you are.)Ī budget template (or budget worksheet) is a great way to get everything on paper, right there in front of your eyes. There’s nothing like having clear directions to follow and step-by-step blanks to fill in to give you the confidence you need to get going on this budgeting journey. You know what can help? A budget template! Because a budget is a plan for your money-you tell it where to go, so you stop wondering where the heck it went.īut if you’ve never budgeted before, or it’s been a while, jumping in can be challenging. You can get personalized budget assistance and help with more complicated things, like negotiating with your creditors or finding out which financial assistance programs you qualify for.No matter what you want to do with your money, it starts with a budget. Seek help: The National Foundation for Credit Counseling is a reputable nonprofit organization that offers financial planning help.This doesn’t mean you deprive yourself of these things forever it just normalizes not spending as much money on them and finding cheaper alternatives. Do a no-spend challenge: Try to eliminate spending for a month (or several) on a problem area in your budget, such as clothing or entertainment.You can ask a lender for a modified payment plan or refinance your debt into more manageable payments. Negotiate with creditors: If debt payments are pushing you into the red, reach out to your creditors.But going through your bank statements to see what you really spend can help you find areas you can work on. Review your spending: It’s easy to guesstimate your spending with the calculator above. ![]() Find ways to boost your income: Whether it’s working a side hustle or a part-time job or asking for a raise at your current job, finding a way to boost the income side of the equation can have the biggest impact of all.Other: This is for all other expenses that don’t quite fit in any of the categories above.Savings and investments: Money that you regularly save for an emergency fund or vacation fund, as well as long-term goals like college, retirement, and a home.It also includes medications, glasses or contacts, and the like. Health care: This includes all the out-of-pocket costs for health insurance, dental insurance, and vision insurance, such as premiums (if they're not deducted from a paycheck), copays, coinsurance, and deductibles.This category also includes debt payments (outside of mortgages and student loans) and vacation expenses. ![]()
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